Fidelity International Correlations

Mutual Funds . USA . 
Fund . Fidelity International Growth
FZAJX Fund  USD 20.64  0.02  0.1%   
The current 90-days correlation between Fidelity International and Fidelity Advisor Emerging is 0.64 (i.e., Poor diversification). The correlation of Fidelity International is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fidelity International Correlation With Market

Poor diversification

The correlation between Fidelity International Growth and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity International Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity International Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Fidelity Mutual Fund

  0.9FPTKX Fidelity Freedom 2015PairCorr
  0.81FQIFX Fidelity Freedom IndexPairCorr
  0.9FQITX Fidelity Salem StreetPairCorr
  0.79FQLSX Fidelity Flex FreedomPairCorr
  0.81FRBDX Fidelity Freedom 2070PairCorr
  0.81FRBHX Fidelity Freedom 2070PairCorr
  0.81FRBLX Fidelity Advisor FreedomPairCorr
  0.86FRBUX Fidelity Freedom IndexPairCorr
  0.78FRBYX Fidelity Freedom BlendPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.87FRASX Fidelity Income ReplPairCorr
  0.72FRCFX Fidelity Freedom BlendPairCorr
  0.78FRCLX Fidelity Freedom BlendPairCorr
  0.8FRCWX Fidelity SustainablePairCorr
  0.78FRGAX Growth Allocation IndexPairCorr
  0.74FRESX Fidelity Real EstatePairCorr
  0.65FRIFX Fidelity Real EstatePairCorr
  0.81FRIMX Fidelity Income ReplPairCorr
  0.7FRINX Fidelity Real EstatePairCorr
  0.7FRIOX Fidelity Real EstatePairCorr
  0.69FRIQX Fidelity Real EstatePairCorr
  0.76FRKMX Fidelity Managed RetPairCorr
  0.69FRIRX Fidelity Real EstatePairCorr
  0.86FRLPX Fidelity Freedom IndexPairCorr
  0.61FROGX Fidelity Municipal IncomePairCorr
  0.76FRQHX Fidelity Managed RetPairCorr
  0.76FRQIX Fidelity Income ReplPairCorr
  0.81FRQAX Fidelity Income ReplPairCorr
  0.82FACNX Fidelity CanadaPairCorr
  0.86FACFX Fidelity Advisor FreedomPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FIADX
+ 0.8
FZAEX
FBKWX
+ 0.76
FZAEX
FBKWX
+ 0.68
FIADX
FIKCX
+ 0.39
FZALX
FIKCX
+ 0.09
FIADX
FIADX
+ 0.02
FZALX
  
High negative correlations   
FBKWX
- 0.41
FIKCX
FBKWX
- 0.3
FZALX
FIKCX
- 0.27
FZAEX
FZALX
- 0.15
FZAEX

Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity International Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fidelity International's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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